Certified Information Privacy Professional (CIPP) Practice Questions 2025 – All-in-One Guide to Exam Success!

The Fair and Accurate Credit Transactions Act (FACTA) is the correct answer because it was enacted in 2003 as an amendment to the Fair Credit Reporting Act (FCRA). One of the key provisions of FACTA is that it grants consumers the right to access their credit reports at no charge once a year from each of the major credit reporting agencies. This annual free access allows consumers to check their credit history for accuracy and to monitor for any potential fraud or identity theft.

The Gramm-Leach-Bliley Act (GLBA) primarily focuses on financial institutions and their responsibilities regarding the confidentiality of consumer data, and it does not specifically address consumer access to credit reports. The Fair Credit Reporting Act (FCRA) established the fundamental rights regarding credit reporting, but it was FACTA that specifically expanded these rights by allowing for the annual free access to credit reports. The Health Insurance Portability and Accountability Act (HIPAA) deals primarily with the protection of health information and does not pertain to credit reporting or consumer access to credit files. Thus, FACTA is the appropriate law in this context.